FRESCA, S/O SHYAMAPRASAD Vs. P RADHAKRISHNAN

JUDGEMENT

(1.) HEARD the learned counsel for the petitioner and the learned standing counsel for the respondent.

(2.) PETITIONER is aggrieved by Ext.P6 notice issued under section 13(2) of the SARFAESI Act. He says that he availed of an over draft facility of Rs.5 lakhs and that despite payments that are made, the bank has classified the account into NPA and on that basis, initiated SARFAESI proceedings.

(3.) HOWEVER , from the submissions made on behalf of the respondent, it appears that in view of the irregularities committed by the petitioner, the facility has not been renewed after June, 2012. It is submitted that still the liability was not cleared and therefore, the bank had to initiate SARFAESI action by issuing Ext.P6.